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Release Date :
Reference Number :
201204ES1172

Total Gross Revenue Index of industries grew by 9.1 percent in the fourth quarter of 2011 from a 12.7 percent growth in the previous year. However, this is its fourth consecutive decelerated growth. All sectors decelerated except for Real Estate, which grew by 25.2 percent, its eighth consecutive double-digit growth, and Private Services, which grew by 8.9 percent from 5.9 percent the previous year. Finance, slowed down to 11.1 percent from 12.7 percent last year, Trade, 10.5 percent from last year’s 13.9 percent, Manufacturing, 6.2 percent from 11.0 percent and Transportation and Communication, 4.9 percent from 10.5 percent.

 
Total Employment Index likewise decelerated to 0.9 percent from 2.3 percent in 2010. Real Estate, while recording the highest growth in total employment index, slowed down to 4.3 percent from its 5.3 percent growth last year. Manufacturing follows with a likewise decelerated growth of 1.4 percent from 3.8 percent last year. Personal Services, on the other hand, grew by 1.3 percent from a decline of 1.2 percent; while Mining and Quarrying and Transportation and Communication continued to decline in total employment index in the fourth quarter of 2011.
 
Total Compensation Index grew at an improved rate of 5.7 percent from last year’s growth of 5.0 percent. Again, Real Estate recorded the highest growth with 14.8 percent followed by Private Services with 7.5 percent and Manufacturing with 6.2 percent. However, Finance and Mining and Quarrying declined by 17.9 percent and 0.4 percent respectively during the quarter. 
 
With the increase in total compensation and meager growth in employment, the Total Compensation per Employee Index grew by 4.7 percent in the fourth quarter of 2011 from 2.6 percent last year.  Real Estate posted the highest growth with 10.1 percent, followed by Private Services with 6.2 percent and Trade with 5.7 percent. The rest of the sectors recorded positive growths except for Finance which declined by 18.7 percent. 
 
This report is based on the April 2012 issue of the Quarterly Economic Indices (QEI) of the Philippines.  
 
 
ROMULO A. VIROLA
Secretary General
 
 
 
 
 
 
 
 

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